World DAO Domination

Crypto Weekly

Online Communities Will be Dominated by DAOs in Five Years

Creating an online community with as little friction as possible is the goal of a decentralized autonomous organization. The range of online communities that share a common interest on the internet includes social networks, grassroots organizations, and customer communities. As a society, we are naturally communal, so engaging in ideas and interests with others online makes sense. Through direct or indirect relationships, communities are built. Our methods vary, however.

Jakob Nielsen proposed a 90-9-1 rule in 2006 based on the inequality of participation in online communities and social media. Nielsen reports that 90% of people who use online communities are lurkers. They observe but don't contribute, 9% contribute a little, and 1% contribute the most. However, as online communities continue to grow in influence, their nature is changing. The previous era was dominated by a relationship between users, customers, and creators. However, online communities have started to take control of what they want to share in recent years.

Owning and creating in the economy

Due to COVID-19 forcing many of us to work from home and socially distance ourselves from loved ones, digital connectivity has played a significant role in staying connected. Many have become more dependent on online communities as a result. In a study conducted by Facebook in conjunction with the Governance Lab at New York University, 77% of respondents indicated their most crucial group operates online. Content can be easily created and shared in today's world. Creator economies, based on human creativity, intellectual property, and technology, continue to grow. We must appreciate the creator economy more than ever after years of lockdowns. The creative economy will play a key role in rebuilding economies following the ongoing global pandemic of COVID-19. According to Deloitte's figures, there could be more than eight million jobs in this sector by 2030.

Leaving behind the sharing economy and moving toward an ownership economy is the next logical step. A nonfungible token (NFT) is an example of the creation and ownership economies

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coming together. Founder of Variant Fund, Jesse Walden, defines ownership as creating, operating, and funding, and owning. Through NFTs, creators can provide a more intimate connection with their followers while removing issues associated with go-betweens. With the blockchain, creators can own and copyright their work while also ensuring its authenticity. NFTs are a golden opportunity for creators to establish creative ownership.

Crypto and decentralized finance (DeFi) are helping to transform online communities. Since crypto and DeFi use assets shared by all shareholders, creating something that aligns with their interests, crypto and DeFi are a natural match. The ownership economy empowers real-world communities to leverage digital tools to create, capture, and exchange value more effectively in virtuous cycles by leveraging frictionless finance.

Bitcoin (BTC) is the pioneer of the ownership economy. Bitcoin was created in 2009 and offered a new avenue of economic wealth using computer

We must appreciate the creator economy more than ever after years of lockdowns. The creative economy will play a key role in rebuilding economies following the ongoing global pandemic of COVID-19. According to Deloitte's figures, there could be more than eight million jobs in this sector by 2030

technology. Thus, anyone with an internet connection was encouraged to mine for newly minted Bitcoin while claiming ownership of the network. The crypto market has grown exponentially since then. With it, online communities are being shaped by new tools and incentive designs, creating the trend we now know as autonomous decentralized organizations.

The DAO online community

As the name implies, DAOs are programmable communities of people that form around a shared mission and foster an online community. The DAO members ensure its objectives are met by controlling a crypto multi-signature wallet jointly. Transparent and auditable if-then statements govern DAOs.

The great thing about DAOs and their role in online communities is that the way they interact with each other is a wide-open space, and there is much work being done in it. DAOs are open to everyone, regardless of their location. All that's necessary is staking funds, which is a great way to get involved with a community. Due to the DAO's lack of walls, its participants have intrinsic and extrinsic incentives to collaborate and support each other, jointly owning and leading projects. A system without a significant party allows everyone a voice in how something is or should be done. 

Crypto Weekly

Test of All-Time Highs is Near for Ethereum

Bitcoin is stuck between $56,000 and $57,000 while Ethereum is trying to settle above the resistance at $4,770. Fed Chair Jerome Powell said yesterday that it was time to "retire" the term "transitory" when talking about inflation and that the Fed should trim its asset purchase program faster.

The Fed's support served as a major catalyst for the rally from pandemic lows, so these comments put pressure on riskier assets. Powell's remarks did not adversely affect Ethereum prices, which continued to rise toward all-time highs. Ethereum's upward momentum is very strong at this point, and the test of all-time highs looks almost inevitable.

Other leading cryptocurrencies also exhibit mixed dynamics. Bitcoin fell below the support at $57,700 after failing to settle above the 50 EMA at $58,300. Bitcoin's nearest support is $56,000. Other coins may also be under pressure if Bitcoin reaches this level, but whether such an event will negatively impact Ethereum remains to be seen. After pulling back below $0.000050 after the recent rally, Shiba Inu is testing the support level at $0.00004450. Dogecoin is also attempting to settle below the support level at $0.2150 in addition to failing to test the 20 EMA at $0.2265. XRP is currently testing $ 1.00 as resistance while Solana is trying to settle above $ 216.

Ethereum is attempting to settle above the next resistance level at $4,770 after clearing the $4,650 resistance level. Ethereum will move towards the next resistance located at all-time highs near $4,865 if it can settle above this level. Ethereum will reach the psychologically significant $5,000 level if it breaks the resistance at $4,865.Ethereum's first support level will be the previous resistance at $4,650. Ethereum may decline below this level and move towards support at $4,535. A move below this level could lead to a test of the support at the 20 EMA at $4,380. 

Dogecoin is also attempting to settle below the support level at $0.2150 in addition to failing to test the 20 EMA at $0.2265. XRP is currently testing $ 1.00 as resistance while Solana is trying to settle above $ 216. Ethereum is attempting to settle above the next resistance level at $4,770 after clearing the $4,650 resistance level.